CANADA STOCKS-Global funk infects TSX, resource stocks lead declines

Reuters Staff

3 Min Read

* TSX down 111.80 points, or 0.74 percent, at 15,042.88

* Nine of ten main sectors lower, only info tech gains

By Alastair Sharp

TORONTO, June 4 (Reuters) - Canada’s main stock index fell on Thursday as energy stocks, miners and fertilizer companies retreated in the face of persistent volatility in bond markets that left global financial market confidence in short supply.

“There are so many things overhanging the market right now, we’ve got an OPEC meeting, we’ve got Greece, we’ve got economic reports coming out, you name it,” said Rick Hutcheon, president at RKH Investments, adding that volumes were also drying up.

“Everyone is worried about the Fed tapering, it’s all the same old stories,” he added. “We’re just stuck in this funk right now until we can some clarity as to where any of these issues are going to fall out.”

The Toronto Stock Exchange’s S&P/TSX composite index was down 111.80 points, or 0.74 percent, at 15,042.88 by 10:42 a.m. (1442 GMT). Of the 10 main sectors on the index only the information technology group was higher.

The most influential movers on the index were Enbridge Inc , which fell 1.5 percent to C$59.42, and Canadian Natural Resources Ltd, which declined 1.2 percent to C$37.53. The overall energy group retreated 1.5 percent.

Other weights on the index were Royal Bank of Canada , which fell 0.24 percent to C$80.08, and Toronto-Dominion Bank, which declined 0.5 percent to C$54.63. The overall financials group retreated 0.4 percent.

U.S. crude prices were down 2.2 percent to $58.36 a barrel, while Brent crude lost 2.2 percent to $62.43 a barrel. Gold futures fell 0.9 percent to $1,174 an ounce and copper prices declined 0.9 percent to $5,960 a tonne.